Florida Sales Tax Rates

Florida Sales Tax Rates

Florida Sales Tax Levies above National Median

Florida Sales Tax Rates - Florida levies a 6% general sales or use tax on consumers, above the national median of 5.5%.In 2006, state and local governments combined collected $1,228 per person in general sales taxes, which ranked 10th highest nationally. Florida's statewide gasoline tax stands at 34.5 cents per gallon (ranked 4th highest nationally), while its cigarette tax stands at 33.9 cents per pack of twenty (ranked 45th nationally). Additionally, counties in Florida have the authority to levy their own "local option" taxes on gasoline. The sales tax was adopted in 1949, the gasoline tax in 1921 and the cigarette tax in 1943.

Florida's 2009 Business Tax Climate Ranks 5th

Florida ranks 5th in the Tax Foundation's State Business Tax Climate Index. The Index compares the states in five areas of taxation that impact business: corporate taxes; individual income taxes; sales taxes; unemployment insurance taxes; and taxes on property, including residential and commercial property. Neighboring states ranked as follows: Georgia (27th) and Alabama (21st).

Florida Levies No Individual Income Tax

Florida is among 7 states in the country that collect no individual income taxes. Since most small businesses are either S Corporations or partnerships or sole proprietorships, they pay their business taxes at the rates for individuals. This makes the tax environment for small businesses in Florida very competitive compared to other states.

Florida's Corporate Income Tax System

Florida's corporate tax structure consists of a flat rate of 5.5 percent on all corporate income, which ranks 40th highest among states that tax corporate income. In 2007, state-level corporate tax collections (excluding local taxes) were $135 per capita and ranked 31st highest nationally.

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